….the austerity was for nothing, it seems!
Ireland, seen as the eurozone’s “poster child” for implementing austerity, could require a second bailout, economists warned. As households struggle to pay their mortgages, the country’s rescued banks may need €4bn (£3.2bn) more to cover losses on loans than was assumed in stress tests last year, said analysts at Deutsche Bank. That would hit the finances of the Irish government, which has already pumped about €63bn into its banking sector in the last three years.
I believe that Greece may well bring Ireland down……which is sad. However the fact is that the Irish political elite have whored themselves to Brussels for so long that they will embrace any and every national humiliation on order to stay on the Euro gravy train even as it runs over the backs of the people.